BMW 2008 Annual Report Download - page 42

43 Group Management Report
mation to the capital markets helped to reinforce the solid
reputation enjoyed by the BMW Group.
During the year, the BMW Group placed two benchmark
bonds with a total issue volume of euro . billion on Euro-
pean capital markets. In addition, bonds for an aggregate
equivalent amount of some euro  million were issued in
Swiss franks, Japanese yen and US dollars and private
placements were made in various currencies for an aggre-
gate amount of approximately euro . billion.
The BMW Group was also able to demonstrate its ability to
obtain funds via ABS transactions once again, securitising
transactions totalling euro . billion in . This included
the placement of euro . billion each on US and European
capital markets via conduit transactions.
The BMW Group proved in  that, despite difficult mar-
ket conditions, it had excellent access to the capital markets
and that the supply of liquidity was ensured at all times.
The underlying strength of the BMW Group as one of the
world’s leading suppliers of premium vehicles is therefore
also reflected in its dealings with the international capital
markets.
Capital markets acknowledge sustainability as
value driver
During , the BMW Group continued its communication
drive on the capital markets with regard to Socially Re-
sponsible Investment (SRI). Road shows held in London
and Paris and an additional event in Zurich helped to pro-
mote
and intensify the exchange of ideas with investors
and analysts interested in sustainability.
BMW stock
2008 2007 2006 2005 2004
Common stock
Number of shares in , 601,995 601,995 601,995 622,228 622,228
Shares bought back at the reporting date – – – 13,488 –
Stock exchange price in euro1
Year-end closing price 21.61 42.35 43.51 37.05 33.20
High 42.73 50.73 46.47 39.97 37.44
Low 17.04 39.81 35.52 32.04 31.78
Preferred stock
Number of shares in , 52,196 52,196 52,196 52,196 52,196
Shares bought back at the reporting date 363 – – – –
Stock exchange price in euro1
Year-end closing price 13.86 36.30 43.52 33.00 24.80
High 36.51 47.52 45.91 33.98 26.20
Low 13.00 33.64 31.80 24.48 22.86
2008 2007 2006 2005 2004
2
Key data per share in euro
Dividend
Common stock 0.30
3 1.06 0.70 0.64 0.62
Preferred stock 0.32
3 1.08 0.72 0.66 0.64
Earnings per share of common stock4 0.49 4.78 4.38 3.33 3.33
Earnings per share of preferred stock5 0.51 4.80 4.40 3.35 3.35
Cash flow6 6.84 9.70 8.21 9.17 9.13
Equity 30.99 33.24 29.24 25.17 24.52
 Xetra closing prices
 adjusted for new accounting treatment of pension obligations
 proposed by management
 annual average weighted amount
 stock weighted according to dividend entitlements
 calculated on the basis of operating cash flow: up to  as cash inflow from operating activities of Industrial Operations and from  as cash inflow from operating activities
of the Automobiles segment